Mortgage Payoff Challenge 2009
Jan. note:It'll take me $712.71 in extra principal payments to reduce the payoff date to 01/11/2022 (dd/mm/yyyy).
February 2009: $199.00 extra principal paid.
Notices of Trustee Sales total between 29/12/2008 and 29/01/2009: 908.
Where $1044.69 of the savings was applied:
Roth: $0
Save Yourself: $50
HELOC: $250
mortgage prepayment: $199
university: $0
laptop: $795.69
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26/02/2009: no more laptop savings. Only one day's earnings reported from last week. It'll take me $314.46 in extra principal payments to reduce the payoff date to 01/11/2022.
Notices of Trustee Sales total between 25/01/2009 and 25/02/2009: 1071. Subtract $104 from overage last session: $869. Where to apply:
mortgage prepayment: $184.98
HELOC: $215.02
Roth: $100.00
University: $50.00
Emergency Fund: $237.00
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13/03/2009: I have $1800 for next month's payment plus the inevitable yearly "cough up the escrow dough, peasants" statement from the bank. It'll take me $1099.71 in extra principal payments to reduce the payoff date to 01/10/2022. However, I won't have much of an income. This is going to be a low priority, and for now I will round up to the nearest $100.00 -- that is, if my next payment is for $581.35 principal, I will round it to $600.00.
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31/03/2009: $1,067.80 in extra principal to reduce the payoff date to 01/10/2022.
Notices of Trustee Sales between 28/02/2009 and 31/03/2009: 1089. Divide by three: $363. Where to apply:
Mortgage prepayment: $113.40
HELOC: $150.00
Roth: $100.00